In the automotive business, the cumulative result was significantly ahead of the previous year, due principally to strong demand across all of the Group’s main automotive markets,” writes the Japan-based company.
NSG officials say overall original-equipment (OE) volumes were significantly higher in most regions, compared with the previous year, and that the auto glass replacement market is gradually improving throughout the world.
The company reports that its North American OE revenues “were significantly above the previous year.” NSG attributes the growth to increased volumes, along with cost savings and efficiency gains,” and also reports profitability for the auto glass replacement market in the North American region. North America comprised 21 percent of the company’s automotive sales for the fiscal year.
In Europe, which makes up 47 percent of the company’s automotive market, NSG officials say they again saw growth in the OE sector, and that “local currency revenues increased strongly from last year’s levels, due to robust volumes, with a consequent improvement in profits.” In the auto glass replacement business, NSG officials say local currency results were similar to the levels of the previous year.
In Japan, representing 17 percent of NSG’s automotive sales, revenues were slightly above the previous year. However, the company reports that improved demand in the first two quarters was offset by reductions in volumes when the Japanese government ended its incentive program for purchasing environmentally friendly vehicles, followed by the March 11 earthquake.
The auto glass business makes up approximately 46 percent of NSG.